Credit: The Associated Press

President Barack Obama pause as he speaks to reporters in the White House briefing room in Washington, Friday, March 1, 2013, following a meeting with congressional leaders regarding the automatic spending cuts.

WASHINGTON — Severe spending cuts now the law of the land, President Barack Obama and congressional Republicans refused Saturday to concede any culpability for failing to stave off what both parties acknowledged was a foolhardy way to slash $85 billion in federal spending.